March 12, 2020 / 1:59 PM / in 20 days

Vienna Airport revokes 2020 forecast due to coronavirus impact

VIENNA, March 12 (Reuters) - Vienna Airport on Thursday said that it would not be able to reach its initial 2020 earnings forecast due to the coronavirus travel restrictions and the resulting massive reduction of flights.

The aviation sector is among the hardest hit as businesses around the globe have curbed travel. Lufthansa, which accounts for around 40% of flights in the Austrian capital, and the second largest carrier there, Ryanair’s Lauda unit, have drastically reduced their flights.

The number of passengers in Vienna has dropped by roughly 30% in March, the group said on Wednesday.

Vienna Airport initially had aimed for an increase in 2020 net profit to 180 million euros ($200 million) from 175.7 million euros last year. (Reporting by Kirsti Knolle Editing by Riham Alkousaa)

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